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Transportation Chief Buttigieg: Crucial Boeing Strike Ends

Transportation Chief Buttigieg: Crucial Boeing Strike Ends
Transportation Secretary Pete Buttigieg (Kent Nishimura / Getty Images)

Thursday, 10 October 2024 07:37 PM EDT

Transportation Secretary Pete Buttigieg said Thursday it is increasingly important to see a resolution to a four-week-old strike by 33,000 Boeing workers seeking a new contract.

"The solution is going to be one that supports workers, that's compatible with the business succeeding," Buttigieg told reporters at the department's headquarters in Washington, D.C. "We think both those things are absolutely compatible, and there's a deal to be had."

Asked when the labor stoppage impact would cause concerns about the broader airplane supply chain, Buttigieg did not specify a date but said with "each passing day it becomes more important ... for them to come to terms."

Boeing said Tuesday it withdrew its pay offer to the International Association of Machinists and Aerospace Workers after two days of talks and accused the union of not seriously considering its proposals. The strike has halted 737 MAX production, as well as older 767 and 777 wide-body programs.

Boeing shares fell 1.8% on Thursday and are down 42% this year.

A letter sent on Wednesday from 30 House Democrats to Boeing CEO Kelly Ortberg and the union representing the striking workers urged the sides to bargain in good faith to reach a fair contract in a "timely manner."

"It is clear that both sides must return to the bargaining table in good faith," the lawmakers wrote.

The company's suppliers are now fretting about how to retain thousands of workers that could face furloughs in the coming weeks during the plane maker's first strike in 16 years.

To conserve cash, Boeing put thousands of white-collar staff on rolling furloughs and said it would freeze most parts orders except for the 787, made in South Carolina. It also faces a risk of losing its investment-grade credit rating.

The company and its suppliers are also reeling from a series of crises including a MAX safety grounding after two fatal crashes, a global slump in air travel during the pandemic and a quality crisis compounded by output curbs placed on Boeing since the blowout of a door plug in January. 

© 2024 Thomson/Reuters. All rights reserved.


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Transportation Secretary Pete Buttigieg said Thursday it is increasingly important to see a resolution to a four-week-old strike by 33,000 Boeing workers seeking a new contract.
pete buttigieg, transportation dept, boeing, strike
341
2024-37-10
Thursday, 10 October 2024 07:37 PM
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